Sellers hoping for a quick sale and full (or better than) asking price should consider last minute home renovation. Such work can make homes more attractive and therefore valuable to potential buyers. Home improvement can be very expensive. It is important to evaluate if the investment going to pay off in the sale. It may or may not provide a a dollar for dollar match but can help facilitate the quickest sale and the highest bid.
Forbes Magazine recently ran a photo essay/article listing the most important and the least valuable improvements you can make to your home before selling it. Their conclusion is that you do not actually have to invest all that much to raise the perceived desirability of your home. In fact, the top three improvements cost a couple hundred dollars or less. And the worst improvements may be those that actually cost the seller the most but do little in the eyes of the buyer. Here is the Forbes list with comments on each suggestion.
Best Home Improvement Investments are Pretty Cheap
1. Clean up the place
Agreed. Cleaning house is something you can do yourself relatively easily and cheaply, using products you already have around the house. Do not underestimate the damage a grimy shower or stained toilet can have on the perceived value of your home.
2. Minor repairs of highly visible items
Fix the outlet that is hanging out of the wall, the door latch that’s askew and the ceiling fan that won’t rotate. This is good advice as buyers see your neglect of small things as endemic of neglect in general.
3. Curb your clutter
A cluttered house whose junk falls on prospective buyers as they open closets is much less appealing that one that seems organized. Empty space makes a home feel more spacious in general and allows home buyers to visualize their belongings in the space.
Both exteriors and interiors benefit greatly from a fresh coat of paint. Neutral paint colors are the best choice.
5. Clean up your yard
It does not have to be elaborate landscaping but a tidy area with healthy, happy plants and grass.
The conclusion is that the best investment you can make in a home before putting it on the market is a bucket, some quality cleaning products, and a decent sponge. The other ideas presented in this article should be considered in light of your specific home.